What Is the P0301 Purpose Code?

The P0301 purpose code covers purchases towards travel, including purchases of foreign travellers cheques and currency notes over the counter by hotels, emporiums and institutions. It also includes amounts received by TT or SWIFT transfers or by debit to a non-resident account, as the FETERS list states. Some planning notes call P0301 business travel, but RBI lists business travel separately as P0302, so this page follows the RBI wording.

P0301 vs P0302: P0302 is "Business travel". It is the code for business travel receipts. P0301 covers purchases towards travel in general. If you are looking for the code for business travel, read the P0302 guide.

Use the P0301 purpose code when foreign currency, travellers cheques or transfers are received as purchases towards travel, including over the counter purchases and TT or SWIFT receipts of this kind. Freelancers invoicing overseas clients for services will not use it. In practice, the AD bank or authorised money changer reports the code, so confirm it with them.

• Use P0302 instead: Use P0302 (Business travel) for business travel receipts.
• Use P0304 instead: Use P0304 (Travel for medical treatment including TCs purchased by hospitals) for travel for medical treatment including TCs purchased by hospitals.
• Use P0305 instead: Use P0305 (Travel for education including TCs purchased by educational institutions) for travel for education including TCs purchased by educational institutions.

The P0301 purpose code is used by authorised dealers and money changers reporting travel related foreign currency purchases, and by the hotels, emporiums and institutions that sell to travellers. The AD bank reports the transaction under FETERS in line with A.P. (DIR Series) Circular No. 84 of February 29, 2012, and Regulation 18(2) of the 2026 Regulations keeps that reporting duty in place.

• For example, a five star hotel in Goa sells foreign currency notes it received from guests to its AD bank, and the transaction is reported under P0301.
• For example, an emporium in Jaipur sells foreign travellers cheques collected from tourists over the counter, and the bank reports the purchase under P0301.
• For example, a foreign tourist's family sends money by SWIFT to a non-resident account in India to cover travel costs, and the bank reports the credit under P0301.
• For example, an institution that collected foreign currency from visiting delegates sells it to an authorised dealer, and the dealer records it under P0301.

• The receipt is for business travel. Use P0302 (Business travel).
• The receipt is for travel for medical treatment. Use P0304 (Travel for medical treatment including TCs purchased by hospitals).
• The receipt is for travel for education. Use P0305 (Travel for education including TCs purchased by educational institutions).
• You are a freelancer or consultant invoicing a foreign client for services. Use A code from the services groups that matches the work. See the [purpose code list for exporters](/blog/rbi-purpose-codes-list-for-exporters)..

For the P0301 purpose code, the core documents are the sale or exchange memo, the identity details the bank requires and the remittance advice. RBI's FETERS list does not set a document list for this code. Each AD bank must publish its list of documents, timelines and charges under Regulation 19(1)(a).

• Exchange memo: Keep the memo or receipt that shows the foreign currency or travellers cheques sold.
• Identity: Keep the identity details the bank requires from the seller or sender.
• Remittance advice: For TT or SWIFT receipts, keep the remittance advice that shows the sender and the purpose.
• Hotel records: Hotels and emporiums should keep records that link the foreign currency to guest or customer sales.
• Bank policy: Ask the bank for its current document list.

1. Confirm the money is a purchase towards travel, such as foreign currency or travellers cheques sold, or a TT or SWIFT receipt for travel.
2. Check whether the receipt is business travel, medical travel or education travel, which have their own codes.
3. Give the bank the exchange memo or remittance advice.
4. State the purpose as travel related so the bank can select P0301.
5. Check the credit advice shows P0301 and ask the bank to correct it if it does not.

• FIRA/FIRC: The remittance advice from your AD bank normally records the purpose of the payment. Keep it with the exchange memo. See the FIRA guide and ask your bank about its format.
• GST status: Whether a travel related sale is an export of services depends on the conditions in section 2(6) of the IGST Act, such as the location of the recipient and the place of supply. Ask a GST professional how they apply to your sale.
• LUT: Where a registered person exports services without paying integrated tax, it is done under bond or Letter of Undertaking, filed as FORM GST RFD-11 on the GST portal. Check whether it applies.
• Income tax: The purpose code does not change how income is taxed. The Income-tax Act, 2025 replaced the 1961 Act from 01.04.2026. Take advice from a tax professional.
• Reporting: Regulation 18(2) of the 2026 Regulations keeps FETERS reporting in place, so the AD bank reports the code you agree on.

• Business travel: Using P0301 for business travel, which RBI lists as P0302.
• Medical or education: Using P0301 for medical or education travel, which have codes P0304 and P0305.
• Service income: Using a travel code for freelance income from a foreign client.
• Planning labels: Trusting a label that calls P0301 business travel instead of reading RBI's wording.
• Missing memo: Not keeping the exchange memo or remittance advice.
• Old process: Following superseded Master Direction steps after October 01, 2026, instead of the 2026 Regulations and the bank's current policy.

The code, its official description and every rule on this page are linked to RBI and other official sources, checked on the dates below.

1. RBI: Guidelines for Submission of Data, Foreign Exchange Transactions Electronic Reporting System (FETERS), purpose code list, Purpose codes for receipts, file coverage table and group listing (checked 9 Oct 2026)
2. RBI A.P. (DIR Series) Circular No. 84 dated February 29, 2012: Compilation of R-Returns, Reporting under FETERS, Paragraph 3: AD banks to report all foreign exchange transactions as per the revised purpose code list from April 2012 (checked 9 Oct 2026)
3. RBI Notification No. FEMA 23(R)/2026-RB: Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 (amended up to September 22, 2026), Regulations 1(2), 3, 5, 16, 18(2) and 19(1)(a) (checked 9 Oct 2026)
4. RBI A.P. (DIR Series) Circular No. 20 dated January 16, 2026: Export and Import of Goods and Services, Paragraphs 4 and 7: Master Directions superseded from October 01, 2026 (checked 9 Oct 2026)
5. IGST Act, 2017, Section 2: Definitions (CBIC tax information portal), Section 2(5) export of goods; section 2(6) export of services (checked 9 Oct 2026)
6. GST Portal user manual: Furnishing of Letter of Undertaking (FORM GST RFD-11), LUT for export of goods or services (checked 9 Oct 2026)
7. Income Tax Department e-filing portal: Objective and scope of the New Act, FAQ 2: the 1961 Act stands repealed on 01.04.2026 (checked 9 Oct 2026)